The only guideline is that you cannot have more than one outstanding FHA loan with a loan to value of higher than 75%.

A property with an outstanding open option can be sold to another party at any time over the option term, but is sold with the option in force.

You would essentially be buying the home for $20k including the obligation to settle all liens outstanding which cloud the title.

Return on Investment is calculated as the dollar amount of the return divided by the principal amount of the loan times the amount of time that the loan is outstanding based on an annualized calculation.e.g 25K Principal and interest 7K for 90 days will get you ROI of 112%(7K/25k*100)/3(months) * 12Hope this answered your question.

Now, I need to get the money to my father to pay off the outstanding balance I owe him on the home.Is this simply a matter of depositing the check that I received and writing a new one to my father once the funds have cleared?

I am an owner of three rentals, and the way I manage my properties is that any outstanding balances are settled out of the security deposit, and I remember when my wife returned the keys and house we had to pay for a broken screen or something.

Bryan,Absolutely outstanding article.

He and his wife have been outstanding tenants all year, and I definitely intend to make good on that rebate. 

You know there are outstanding liens.

You know there are outstanding liens.